PLEASANT RIDGE – Digital promotions company ePrize announced Tuesday that it was acquired by Catterton Partners, a Connecticut-based, consumer-focused private equity fund with $2.5 billion under management. Terms were not announced.
In a press release, the company said the investment will be used to accelerate ePrize’s overall growth and expansion, particularly in the multi-channel engagement and CRM arenas. ePrize retains its headquarters Pleasant Ridge, with offices in New York, Chicago, Los Angeles and Seattle.
ePrize offers a technology platform that lets brands engage with consumers through mobile devices and social media. In July 2011, ePrize acquired a division of Apollo Data Technologies, and in January 2012, acquired Cellit, a mobile solutions company.
The current ePrize leadership team, led by Matt Wise, Chief Executive Officer, will continue to lead the ePrize, capitalizing upon the financial and strategic resources created by the acquisition.
?With Catterton?s consumer insights and operational and financial expertise, we can further accelerate our growth and innovation in helping companies engage their consumers through online, mobile and social means,? Wise said.
Scott Dahnke, Managing Partner at Catterton Partners, said ePrize has been a pioneer in digital engagement.
?The rapid increase in the adoption of mobile technology has changed how brands engage with consumers, and ePrize is at the forefront of that trend,? he said. ?We look forward to working with the talented team at ePrize and leveraging our capabilities and resources to support the Company?s continued growth and expansion.?
Founded in Detroit in 1999 by serial entrepreneur Josh Linkner, now the managing partner of Detroit Venture Partners. Linkner is joined at DVP by Dan Gilbert, founder and chairman of Quicken Loans, and Brian Hermelin, Founder & Chairman of Rockbridge Growth Equity, Chairman of Active Aero Group, and former NBA basketball great Irvin ?Magic? Johnson. Gilbert invested $32 million in ePrize in 2006.
